Demolishing Chancellor Osbourne's statement

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Offline the leveller

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Demolishing Chancellor Osbourne's statement
« on: May 27, 2016, 10:07:17 AM »
Dear fellow member of UKIP,
 
Here is my long piece for Standpoint magazine demolishing Chancellor Osborne’s statement that the average UK household would be substantially worse off because of Brexit. This follows up my e-mail with video yesterday.
 
 I won’t rehash the arguments I gave on Wednesday, but would like to mention a couple more,
   1.Assuming that the British people vote for Brexit, and assuming that the two years for renegotiation of trade arrangements under Article 50 achieve nothing at all, the UK’s companies would have (in 2018) to pay the EU’s common external tariff on its exports to the EU. That is the worst possible outcome. The average rate on the common external tariff is 4% and exports on the EU are 13% of national output. How can a small price change on exports that are less than a seventh of national output cause a drop in living standards equal to 10% of national output? How is that possible? The claim is obvious baloney.
2.Assuming that the British people vote for Brexit, and assuming that the two years for renegotiation of trade arrangements under Article 50 achieve nothing at all, the UK would be in the same position relative to the EU as the 160 countries of the world that do not belong to the EU. Most of those 160 countries – which include the USA, Canada and Australia – are doing fine. Why should the UK be any different?
 
 As I said, official analyses of these matters (in which I include analyses from the National Institute and the Institute for Fiscal Studies, bodies that receive grant money from government- and EU-related funds) are dishonest and worthless, and George Osborne is a bare-faced liar.
 
 One encouraging development in the debate is that the British public is becoming aware of the disgraceful way in which the government, with its allies and cronies, is conducting the PR campaign. The Sun, The Daily Mail and The Daily Express – which have a few more weeks to expose the shabbiness – are indeed pillars of the British constitution.

 With best wishes,
 
 
 Tim Congdon



 
 


Runner-up in the 2010 UKIP leadership election
 UKIP Economics Spokesman 2010 – 14

 
   
 
 
 

« Last Edit: May 27, 2016, 10:35:31 AM by the leveller »

 
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